TOKYO (Standard&Poor's) Sept. 10, 2015--Standard&Poor's Ratings Services today said that its ratings on the core operating subsidiaries of MS&AD Insurance Group Holdings Inc. (not rated), including Mitsui Sumitomo Insurance Co. Ltd. (A+/Stable/A-1+), would not be affected by MS&AD Insurance Group's planned acquisition of U.K.-based Amlin PLC. On Sept. 8, the group reached an agreement to initiate proceedings to make Amlin a wholly owned subsidiary. The group will carry out the deal through its wholly owned subsidiary Mitsui Sumitomo Insurance. If the acquisition proceeds as planned, it could have a negative impact on MS&AD Insurance Group's capitalization as a result of goodwill, in our view. Considering that its capital and earnings have been improving, however, we believe
